Strike Energy Limited Southern Cooper Update, Capital Raising & UIL Acquisition October 2018 Stuart Nicholls CEO & Managing Director Jaws-1 horizontal well site 2018
With two significant landholdings in Australias premium onshore O&G basins, Strike is poised to become the next mid-cap O&G company Strike is a highly attractive Conventional Gas Portfolio Australian domestic gas 2,768 km of net…
Executing Strikes Strategy Strike has continued to deliver on its revised transformational strategy since the new Board & Management took over some 18 months ago: 1. Subsurface Focus: Klebb Technical Success & Perth Basin Kingia…
Southern Cooper Basin Gas Project Page 5
Jaws-1 Progress Update Jaws performance to date is within the range of expected outcomes1. BHP (PSI) Actuals Plan mscf/d 1,000 2,000 Gas Breakout 1,000 500 desorption pressure bbls/psi +98 0 bbls/psi 0 30 60 90…
Cross section of Jaws with modelled pressure depletion Dynamic modelling shows the pressure wave only just beginning at the heel of the horizontal; large volumes of coal are still to come into the desorption window Horizontal…
The SCBGP is transformational for the East Coast 3 world scale To LNG Markets Major infrastructure Upstream thick coal seams with significant Moomba spare capacity Gas Plant Vm3 Upside 15m Moomba Gas Plant 450 TJ/d To Sydney…
Australian Innovation - Jaws-1 The Jaws-1 production system is designed to enhance natural characteristics of the coal by: 1. Increasing induced permeability through multi-stage fracturing, 2. Enhancing production rates via mass…
Jaws success will unlock a commercial path for multi-TCF play Flare from K2 during September Jaws is the enabler for a multi-billion dollar resource to make its way to market. If successful, Jaws will prove: Jaws-1 Appraisal Well 1.…
Perth Basin Portfolio Page 11
West Erregulla in the Perth Basin & WA Market Perth Basin total Discovered Reserves1 (2017) Plus West Erregulla (MMboe) Western Australian Market 450 +216% Currently market is balanced with significant demand opening up from 2020.…
West Erregulla A tier-1 asset in the making W.Erregulla-1 Perth Basin TD in Dongara 7.5km tight sands 500m short (1993) Proposed WE-2 Kingia High Cliff West Erregulla - a material standalone conventional gas prospect at…
West Erregulla - Advanced reprocessing & spatial stacking yields further confidence in Kingia-High Cliff AA Before A AA After A Spatial Stack 41 traces stacked on either side of profile Carynginia 2 separate sands Fluid…
West Erregulla Additional Prospectivity Recent mapping of conventional play in the lower Dongara shows stacked target for West Erregulla-2 (WE-2) Lowstand to transgressive basin floor channel-fan complex and channel feeder channels…
West Erregulla-2 Well Delivery WE-2 is on track for spud in March 20191 Strike has submitted its environmental plan application for WE-2 Some major tenders complete (e.g. rig, casing) and others are ongoing (e.g. well heads, fluids…
Mitsui Valuation of Waitsia vs. West Erregulla In Q1 2018, Mitsui closed its acquisition of AWE for 605m. 83% of the transactions 2P Reserves were attributable to Waitsia 1. This equals a market valuation of 503m2 for the 50% operated…
Capital Raising High Cliff Sand from Field Visit to Perth Basin Page 18
Capital Raising Strike has undertaken a placement to institutional and professional investors and received firm Placement commitments to raise 13 million (before costs) (Placement) Placement will be issued under Strikes placement…
Acquisition of UIL Energy Kingia Sandstone Outcrop from Field Visit to Perth Basin Page 20
Overview of the Transaction Combined Portfolio 2C Contingent Resources Off-market takeover Offer for Strike to (Mmboe)3 Strike - Cooper acquire 100% of UIL Energy Limited (UIL) Basin, 17.3 Strike - Consideration: Perth 84.4 Strike…
Reasons for UIL Shareholders to Accept the Offers The UIL board unanimously recommend UIL Shareholders accept the Offers and intend to accept the Offers for their own UIL shares, in the absence of a superior proposal and subject to…
UIL Board Endorsed Bid by Strike for UIL Strike plans to build a material domestic gas business in A Prominent Perth Basin Position the Perth Basin to complement its extensive Cooper Basin position. Transaction Rationale Technical 1.…
Major Position in the Kingia High Cliff Existing regional 2D lines show Kingia-High Cliff Sand Sequence similar lead potential in EPA-82 & Combined 1,121 km of net acreage 98 as West Erregulla. West Erregulla QI work by Strike has…
UIL Southern Permits Large acreage position Covers a diverse range of conventional and surrounded by unconventional plays, including the Ocean discoveries Hill and Walyering discoveries, which are proven to contain both gas and…
Diversified Combined Portfolio UILs and Strikes Portfolios generate excellent division across the exploration / value creation funnel Discovery & Appraisal Ocean Southern Kingia - High Hill Unconventional Cooper Basin…
Indicative Merged Group Capital Structure STX Share Price A0.145 /share Flaring at Jaws Shares on issue () 50% SPP take-up 100% SPP take-up October18 Existing Shares on issue 1,123,511,727 1,123,511,727 UIL Transaction consideration…
UIL Transaction and Capital Raising Timetable Announcement of the Transaction and Capital Raising Monday, 22 October 2018 Placement Bookbuild opens Monday, 22 October 2018 Placement Bookbuild closes Tuesday, 23 October 2018…
Summary and Corporate Information Page 29
Potential major news flow over the next 9 months Southern Cooper Basin1 Jaws-1 Material gas Commercial Maiden Flare ignition Flows Success Reserve Jaws-2 October18 STX June19 14.5 CPS2 Perth Basin Combination of UIL…
An Experienced Board with a High Performance Team Journey since Board of Directors April 2017 Trusted Advisor Chairman John Poynton AO Cit WA New Board Subsurface Consultant Tony Cortis Australian Business Leader Governance &…
Strike & UIL Combined Acreage Position1 Operator STX/UIL Gross Area Gross Area STX/UIL Net STX/UIL Net Permit Basin Lifecycle Target (Parent) Position (Acres) (km2) Area (acres) Area (km) PEL 94 Cooper Basin Exploration Deep Coal…
Strike Energy Limited Cooper Basin License Information Perth Basin License Information Page 33
Strike Energy Limited Strike has a portfolio of high quality and Board of Directors Securities Exchange potentially transformational gas projects John Poynton (Chair) ASX: STX Jody Rowe capable of delivering material near term value…
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